Buying a home in South Florida means factoring in insurance costs, which can significantly impact your monthly payment.
Types of Insurance You’ll Encounter:
- Hazard Insurance (Homeowners Insurance): Covers damage from fire, theft, wind, and storms.
- Flood Insurance: Required if your property is in a designated flood zone.
- Windstorm Coverage: May be separate or included in your hazard policy.
How Insurance Impacts Your Payment
Lenders usually escrow insurance premiums with your mortgage, which means your monthly mortgage payment increases based on insurance costs.
Key Things to Watch Out For:
- Older roofs often mean higher premiums or policy denials.
- Homes east of I-95 or near canals often require flood insurance.
- Wind mitigation reports can lower premiums by showing hurricane-resistant features.
👉 Our team ensures buyers get multiple insurance quotes upfront so there are no last-minute surprises at closing.